Find out more about Papaya Global Payroll Correction For Overpaid ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a secure and trustworthy approach of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a significant amount of time every month. With its easy to use user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
The Employee Website provides workers with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to global staff members regardless of the number of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, develop regional accounts and have a minimum number of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, overall work costs distributed per location, overall work expenses per cycle and a lot more.
Internationally, I have demonstrated leadership and strategic competence in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually kind of had a range of various roles on the provider side and also on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex obstacle for services running globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a difficult job into a tactical possession.
Handling payroll globally is a difficult task due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The sheer number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Despite residing in a period of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to provide insights and solutions to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in global payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they depend on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of right and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is absolutely important but all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to sort of move forward with that it also too to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm always surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on wellness and the settlement landscape is becoming increasingly intricate. Organizations are constantly presenting new advantages and payment choices, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's highly sophisticated period, there's no justification for keeping troublesome procedures. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even minor delays can negatively affect employees' wellness and have significant effects. For that reason, it's critical to focus on accurate and timely payments.
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only see when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the first Global Payments first payroll payment service is an excellent preliminary action towards providing a detailed payroll option for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts essential for worldwide payroll are key factors in attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we understand how how important a role it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everybody that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and kind of try to return to everybody so moving on look why do companies select to primary separate checking account there are services out there doing exactly this for particular countries and I have actually operated in an organization or lots of companies doing exactly that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't have to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I believe individuals have actually got so used to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it needs altering however eventually individuals are extremely stuck with what they recognize
with right um modification is a hard thing all of us don't like change um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having keeping numerous checking account however there's a big amount of complexity goes with establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the intricacy is huge but I think the honest answer is change um individuals haven't been able to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century approximately there is a lot to keep track of and this approach does posture a number of difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you deserve a corner office with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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